A strong push by the Governmen t for B5 could translate into domestic palm oil stock s being reduced to below 1million tonnes as well as provide a floor price at RM2,000 per tonne.
PETALING JAYA: The high volume of crude palm oil (CPO) inventory carried forward from the previous year, coupled with the industry’s expectation of higher crop production going forward, have resulted in the bearish sentiment of CPO prices, said IJM Plantation CEO and managing director Joseph Tek.
He said for financial year 2014 (FY14), the average selling prices per tonne hovered around RM2,200 to RM2,400.
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